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Separate Accounts Equate to Happy Relationships

Millennials are experiencing the tension that many generations before them have seen. They are finding out that finances are also sources of tension. This is the same thing that all generations before them have experienced.

What makes the millennial crowd difference is their ability to take a different approach to this dilemma. Instead of doing a lot of fighting about money they are making a conscious decision to actually keep their finances separate. This can be the fine line between staying together or breaking up. Relationships seldom work when there are too many arguments about money so this young generation of entrepreneurs and businesswomen may be on to something.

The reality is that there will always be some tension with money because in most relationships there is a spender and a saver. It is rare for two people to come together and see eye-to-eye when it comes to how they’re spending. This is why the concept of separating accounts and simply moving beyond the arguments about who is spending is a better idea. It would be great to have a spouse that saw everything your way, but few men are going to co-sign on the expensive handbags that women are buying.

By contrast, most women are not going to see the need for another fishing pole or an overpriced universal remote control. When these types of purchase come into place in a joint account it can cause friction. When people have their own separate accounts, however, there is nothing to argue about.

As long as people that are in relationships make the connection where they are splitting their expenses they should be able to do whatever they want with what is left of the checks that they have. In most cases people that are in relationships are going to find that each person had debt from their previous relationship.

No one wants to marry someone, regardless of how much they love them, and start taking on a massive amount of debt. This is not the way that people want to engage in relationships. For new age millennials it makes more sense for them to have something of a separate life because it gives them the freedom to buy what they want to buy without any scrutiny.